Minnesota SF4062 prohibits spread pricing by pharmacy benefit managers and imposes various regulations on pharmacy benefit managers.

Minnesota SF4062 amends state statutes to prohibit pharmacy benefit managers from engaging in spread pricing, where the contracted price for prescription drugs differs from the amount paid to the pharmacy. The bill also increases license application fees for pharmacy benefit managers, limits permissible sources of income, and imposes fiduciary duties. It mandates transparency reports from pharmacy benefit managers, detailing financial data and prescription drug pricing. Penalties are established for violations, and funds are appropriated for enforcement.

Minnesota SF4062 prohibits spread pricing by pharmacy benefit managers and imposes various regulations on pharmacy benefit managers.

Minnesota SF4062 amends state statutes to prohibit pharmacy benefit managers from engaging in spread pricing, where the contracted price for prescription drugs differs from the amount paid to the pharmacy. The bill also increases license application fees for pharmacy benefit managers, limits permissible sources of income, and imposes fiduciary duties. It mandates transparency reports from pharmacy benefit managers, detailing financial data and prescription drug pricing. Penalties are established for violations, and funds are appropriated for enforcement.